商业银行设立普惠金融事业部能提高小微企业信贷可得性吗?——基于PSM-DID模型的实证检验

Does the Establishment of Inclusive Financial Affairs Department in China's Commercial Banks Improve the Credit Availability of Financing for Small and Micro-Sized Enterprises?-An Empirical Study Based on PSM-DID Model

本文基于中国145家商业银行2012—2018年的非平衡面板数据,以《大中型商业银行设立普惠金融事业部实施方案》为准自然实验,探讨商业银行设立普惠金融事业部对小微企业信贷可得性的影响。研究结果表明,商业银行设立普惠金融事业部能够显著提高小微企业的信贷可得性。机制检验表明,商业银行设立普惠金融事业部能够通过降低银行风险承担和缓解信贷配给的途径提高小微企业的信贷可得性。不同货币政策环境对商业银行设立普惠金融事业部影响小微企业信贷可得性的作用效果存在显著影响。此外,商业银行设立普惠金融事业部对小微企业信贷可得性的影响会随银行规模的不同而出现显著差异。相比于大型商业银行而言,中小型商业银行设立普惠金融事业部更有助于提高小微企业的信贷可得性。最后,本文对未来商业银行设立普惠金融事业部,解决我国小微企业融资难、融资贵等问题提出政策建议。

Commercial banks' vigorous development of inclusive finance is an important means to solve the financing difficulties faced by small and micro-sized enterprises in China. This paper conducts an empirical test on the implementation effect of the Implementation Plan of Establishing Inclusive Finance Business Unit in Large and Medium-Sized Commercial Banks jointly issued by 11 departments including The National Development and Reform Commission. Based on the non-equilibrium panel data of 145 banks in China from 2012 to 2018, the PSM-DID method was used to explore the impact of the establishment of inclusive finance business unit in commercial banks on the credit availability of small and micro-sized enterprises, and the transmission mechanism was tested. The research results show that the establishment of inclusive finance business unit in commercial banks can improve the credit availability of small and micro-sized businesses by reducing banks' risk-taking and easing credit rationing. Moreover, monetary policy has a moderating effect on the credit availability of small and micro businesses affected by the establishment of inclusive finance business unit in commercial banks. The influence of establishing inclusive finance business unit in commercial banks on the credit availability of small and micro-sized enterprises varies significantly depending on the size of banks, and these units are more conducive to improving the credit availability of small and micro-sized enterprises. Finally, the paper puts forward some policy suggestions: commercial banks should actively establish inclusive financial business units to increase effective financial supply, accelerate market-oriented reform of interest rates, unblock monetary policy transmission channels. Meanwhile, efforts need to be made to actively promote the healthy development of small and medium-sized commercial banks.